Abadeen has released the whole-floor penthouse crowning its recently completed <a href="https://www.apartments.com.au/buildings/park-residences-cremorne-2-sutherland-street-cremorne-nsw-2090">Park Residences</a> development in Cremorne, bringing the near-300 sqm residence to market for the first time.

Occupying the entire top floor of the boutique Lower North Shore development, the penthouse includes 221 sqm of internal living and a 74 sqm wraparound terrace, with a prized north-facing aspect taking in views across Middle Harbour.

The residence has been completed and fully furnished following a collaboration between Abadeen Executive Chairman Justin Brown and internationally recognised interior designer Jack Freeman, Founder and Managing Director of FREEMAN &amp; CO.

<a href="https://www.apartments.com.au/developers/abadeen">Abadeen</a> and Freeman approached the penthouse as a finished home, sourcing furniture, artwork, lighting and objects from Australia and overseas.

&nbsp;

[smartcode_project:default project_id=114246 project_image_fid=378718]

Pieces from Parisian design house Pierre Augustin Rose sit alongside contemporary artworks and bespoke lighting, with Freeman drawing on recent visits to PAD Paris and Salone del Mobile Milano for the final collection.

Brown said the aim was to create a penthouse that felt more like a large-scale private home than a traditional apartment.

"The experience begins the moment the lift doors open. You're welcomed into an elegant dining room before the home opens into an extraordinary living space framed by sun-drenched harbour views.

"Every time someone walks through the front door they pause. It's not just the view, it's the incredible sense of space, the warmth created by the northern sunlight that fills the interiors, and the way every room connects so effortlessly.

"It has all the proportions of a luxury home, while delivering the effortless lifestyle and personalised experience of living in a world-class six-star hotel, combined with the simplicity and convenience of apartment living."

&nbsp;

[smartcode_project:default project_id=114246 project_image_fid=378713]

A secure lift provides exclusive access to the penthouse level, opening to a dedicated arrival foyer and dining area before the residence expands into its main living and entertaining spaces.

Floor-to-ceiling glazing runs across the northern side of the home, connecting the interiors with the terrace and Middle Harbour outlook.

The penthouse also features a fireplace and substantial chef's kitchen, while the wraparound terrace has been designed to accommodate both everyday outdoor living and larger-scale entertaining.

[smartcode_project:default project_id=114246 project_image_fid=378720]

Freeman said the interiors had been deliberately kept restrained to complement the scale, natural light and outlook already established by the architecture.

"The penthouse is a serene study in quiet luxury," Freeman said.

"The interior pairs soft, sculptural forms with warm timber, pale stone and a restrained neutral palette. Curated artwork and metallic accents add depth, while abundant natural light creates a calm, effortlessly refined atmosphere. In my world, less is always more."

Freeman said the approach was centred around collecting individual pieces rather than simply decorating the apartment.

"Every material, every object and every piece of furniture has been curated with intention. I am a true believer in collecting versus decorating.

"The architecture already provided extraordinary natural light, remarkable volume and an uninterrupted connection to Middle Harbour. Our role was to complement those qualities with unique one-of-a-kind pieces of fine art and collectible design sourced from recent travels around the world."

[smartcode_project:default project_id=114246 project_image_fid=378694]

Among the collection are solid bronze sculptures by Lorenzo Quinn, alongside a curated crystalware collection and pieces sourced from international design fairs.

Park Residences sits opposite Cammeray Golf Club, Cammeray Croquet Club and Grand Slam Tennis Cammeray, around 300 metres from Neutral Bay Village and its established collection of restaurants, cafés and retail.

Brown said the combination of a whole-floor floorplan, northern aspect and proximity to Neutral Bay was becoming increasingly difficult to find on the Lower North Shore.

"Completed whole-floor penthouses with a sun-drenched north-facing aspect and sweeping Middle Harbour views are exceptionally rare," Brown said.

"Add a quiet position opposite golf, croquet and tennis facilities, a level walk to Neutral Bay Village and only minutes to the CBD, and you have a lifestyle that's incredibly difficult to replicate.

"This is a home that offers the privacy and generosity of a luxury residence together with the convenience of one of Sydney's best-connected harbourside locations."

The penthouse will be exclusively marketed by SRM Residential.

[smartcode_project_cta:default project_id=114246]

Joel Robinson

Abadeen unveils signature penthouse at Park Residences in Cremorne

New Brisbane developer Dalcott has unveiled Marrone, the first of three residential projects it is planning in and around Browning Street in South Brisbane.

<a href="https://www.apartments.com.au/new-apartments/marrone-south-brisbane-39-browning-street-south-brisbane-qld-4101">Marrone</a> will comprise 97 predominantly two- and three-bedroom apartments, with larger residences aimed squarely at the owner-occupier market.

The project will sit in a quiet pocket of South Brisbane between South Bank and West End, close to the restaurants, cultural attractions and riverfront amenity that have driven the suburb's continued transformation.

Dalcott is targeting buyers looking for more space and amenity than has traditionally been offered in the inner-city apartment market, particularly downsizers and professionals wanting to remain close to the city.

[smartcode_project:default project_id=149951 project_image_fid=377072]

Resident facilities will be concentrated around an extensive rooftop amenity offering, including a swimming pool, spa, infrared sauna, warm and cold magnesium plunge pools, private lounge, dining room and outdoor entertaining areas.

Dalcott Managing Director Lachlan Cottee said South Brisbane's combination of lifestyle, connectivity and established character had been central to the approach to Marrone.

“South Brisbane offers a combination of lifestyle, connectivity and character that’s difficult to replicate elsewhere in Brisbane,” Cottee said.

“Our focus has been on creating homes that feel connected to that environment while providing the level of design, functionality and quality that today's owner-occupiers expect.”

The residences will feature an expressive material palette. Italian Calacatta Viola marble, known for its deep burgundy veining, will be paired with aged brass tapware, Chestnut engineered timber flooring and Tuscan Oak joinery.

<img alt="Marrone" data-entity-type="file" data-entity-uuid="b8d833da-3b30-496a-ae30-07bdff371b50" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.35%E2%80%AFAM.png?VersionId=P6DAgOfaQzIXljKKK5j3e5NhWtrHIu9G" />

Bathrooms will feature Nara Japanese ceramics and glass bricks, while clay, walnut and brass lighting will be used throughout the apartments.

Dalcott has appointed Realm Projects, led by Managing Director Shane Foley, to handle sales and marketing following previous sold-out collaborations between the groups.

Foley said the Brisbane apartment buyer had become increasingly focused on the quality of the home itself rather than simply securing an inner-city address.

“We expect to see strong demand from buyers who still want all the advantages of inner-city living but aren’t prepared to compromise on the quality of their home,” Foley said.

“Many will be downsizers looking to leave behind the maintenance of a traditional family home without giving up the space they enjoy, while others are likely to be professionals wanting a residence that reflects the way they live today.”

“Marrone responds directly to that demand, with generous floorplans, exceptional resident amenity and a location that places some of Brisbane’s best dining, entertainment and cultural attractions within walking distance.”

<img alt="Marrone" data-entity-type="file" data-entity-uuid="61f7b22f-899e-4c0f-940a-7d3ab1bfb93a" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%2010.52.44%E2%80%AFAM.png?VersionId=PvN1JYxBgUpyCB7efKo52WGdSDs9nmim" />

Marrone will be the first project delivered as part of Dalcott's broader investment in the precinct.

It will be followed by La Terra, a boutique project comprising penthouse-style, single-level apartments on a northeast corner site with extensive resident amenity and city views.

Cottee said Marrone represented the first stage of the group's longer-term plans for the area.

Dalcott was established in 2025 by Lachlan Cottee and Ben Dalgliesh, combining development and construction capability under an integrated model and focusing on architecturally considered residential projects.

Marrone will initially be offered through a pre-release registration campaign ahead of its broader public launch.

Dalcott targets owner-occupiers with South Brisbane debut Marrone

Parnell Developments is the latest to seek significant uplift through the NSW Government's Housing Delivery Authority on a Strathfield site previously approved for a much smaller apartment development.

Parnell has sought approval for a 32-storey mixed use tower across&nbsp;<a href="https://www.apartments.com.au/new-apartments/7-lyons-street-strathfield-nsw-2135">3-7 Lyons Street and 18 Parnell Street</a>, a&nbsp;1,857 sqm site around 400 metres from Strathfield Station. The building would yield 160 apartments, 15 per cent of which will be dedicated affordable as per the government mandate for buildings seeking additional uplift.

Approved previously was a nine-storey building back in 2022 with just over 30 apartments. That approval came prior to the project being&nbsp;progressively reconsidered as planning policy shifted toward greater density around transport hubs.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="c5af5281-a643-4eb2-b8c4-0081b59c04c7" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.16.48%E2%80%AFAM.png?VersionId=37bd3mI7rHNpThOV_75VO8xsGFwWOi1u" />

Turner has designed the latest building that would replace&nbsp;existing detached homes across the four lots.

The apartment mix comprises 22 one-bedroom apartments, 107 two-bedroom and two-bedroom-plus configurations, and 31 apartments with three or more bedrooms. The scheme also includes 203 car spaces across six basement levels and 58 bicycle spaces.

The proposal has been designed around a three-storey podium addressing Lyons Street, with the tower rising above and stepping toward its upper levels.

Turner said the podium was deliberately scaled to respond to the existing street, while the taller element has been designed as part of the emerging skyline anticipated around Strathfield Town Centre and the wider Homebush transport-oriented development precinct.

The Lyons Street frontage would have a more active, pedestrian-focused character, incorporating the commercial tenancy, landscaping and a brick-framed podium with an awning.

<img alt="Strathfield" data-entity-type="file" data-entity-uuid="14b20874-b8c3-4ac7-bc03-92be9a69fb78" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.48%E2%80%AFAM.png?VersionId=av.9TxtqIRTC6v3PkSuu1rL9rreWoe2h" />

Parnell Street, which faces the railway corridor, has been given a different architectural treatment, with double-height breeze blocks, landscaping and communal areas used to soften the interface with the rail infrastructure.

The tower itself uses curved and recessed facade elements, with wave-like indentations across the northern elevation breaking the building into three vertical forms.

A palette of grey concrete, brick and breeze blocks is complemented by clay and terracotta accents, while the upper tower adopts a lighter expression through articulated slab edges, vertical fins and recessed glazing.

Residents would have access to 467 sqm of communal open space spread across three levels. The ground floor would accommodate the more active resident areas, including barbecue and group gathering spaces and an internal communal room capable of being used for working from home.

A more passive viewing deck is proposed at level three, overlooking the ground-level landscaping and neighbouring tennis courts, while a rooftop "sunset deck" at level 30 would provide another social and relaxation space.

<img alt="Parnell" data-entity-type="file" data-entity-uuid="c3dce401-a80f-4682-8471-4caa01180880" src="https://s3.ap-southeast-2.amazonaws.com/www.urban.com.au/s3fs-public/inline-images/Screenshot%202026-08-25%20at%209.17.34%E2%80%AFAM.png?VersionId=Xyo8JVqbOhSJXNy6Ih.1cHL.O6i0bGR." />

&nbsp;

&nbsp;

&nbsp;

Strathfield has been earmarked for substantial change through the Strathfield Town Centre planning work and the nearby Homebush TOD precinct.

Turner's report says the project has been designed to act as a transition between the existing low and mid-rise development surrounding the site and the taller built form expected to emerge across the town centre.

The proposal is being assessed as State Significant Development under the HDA pathway, alongside the concurrent request to amend the Burwood Local Environmental Plan.

First look: New apartment tower pitched for Strathfield Town Centre precinct

An $18 million penthouse has hit the market in Main Beach as construction tops out on La Mer, the $155 million apartment development rising just metres from the beach.

Spanning around 600 sqm across the top two levels of the 29-storey tower on Main Beach Parade, the four-bedroom penthouse is one of the latest eight-figure residences to test the upper end of the Gold Coast apartment market.

Its launch comes amid continued activity at the very top of the market, following the $30 million off-the-plan sale of a Burleigh Heads penthouse earlier this year, which surpassed the Gold Coast's previous $24 million apartment record set in 2023.

The <a href="https://www.apartments.com.au/new-apartments/la-mer-main-beach-3580-main-beach-parade-main-beach-qld-4217">La Mer penthouse</a> has been designed as a private residence in the sky, with 360-degree views spanning the ocean, Broadwater, hinterland and Gold Coast skyline.

[smartcode_project:default project_id=95606 project_image_fid=378731]

All four bedrooms have ensuites, while the ocean-facing master retreat occupies around half of the upper level and includes its own lounge, private balcony, two walk-in wardrobes and an oversized ensuite with a freestanding stone bath positioned to take in the views.

The residence also features a kitchen designed to accommodate a private chef, a 3.6-metre island bench, expansive butler's pantry, wine cellar and integrated bar.

[smartcode_project:default project_id=95606 project_image_fid=378732]

A rooftop pool and substantial outdoor entertaining area with its own kitchen sit above the residence, while a grand staircase connects the two internal levels. The penthouse also has its own express lift.

OTP Group Director James Elliott, who is marketing La Mer, said the penthouse was expected to appeal to high-net-worth buyers seeking either a permanent Main Beach residence or Gold Coast holiday home.

“The La Mer penthouse represents exceptional value, considering its quality design, size, privacy and location, not to mention the 360-degree views capturing the beach and Gold Coast Broadwater,” Elliott said.

“We’re anticipating interest from high-net-worth individuals and couples seeking a residence or holiday home in the sought-after village enclave of Main Beach, taking advantage of the unprecedented growth underway in the area and neighbouring The Spit.”

[smartcode_project:default project_id=95606 project_image_fid=378736]

La Mer is being developed by developer-builder ODUS and Nazero, in partnership with funder Metrics Credit Partners.

ODUS Director Byron Sakha said topping out the tower had provided the opportunity to release the project's most significant residence.

“We’ve worked with internationally-recognised studio Sici Design on the penthouse interiors, with a focus on ensuring it isn’t luxury for luxury’s sake. Every element has been thoughtfully designed to enhance quality of life for those who call it home,” Sakha said.

“The views are the hero of virtually every space, but we’ve given equal attention to the fittings and finishes, so every detail exudes elegance and refinement.”

Sici Design Founder and Director Maria Papadopoulos said the extensive views became an integral part of the interior design rather than simply something the residence was designed around.

“The views weren't something we designed around, they became part of the design itself, with the true luxury of La Mer in its feeling of peace, calm and wellbeing,” Papadopoulos said.

“Luxury isn't defined by how something looks, but how it makes you feel, and we believe a luxurious home should be beautiful to live in, not stressful to maintain.”

The interiors combine Austral Dream Dolomite natural stone and travertine with timber flooring and a restrained coastal palette.

[smartcode_project:default project_id=95606 project_image_fid=378734]

Designed by Plus Studio, La Mer is one of the more boutique additions to the rapidly changing Main Beach apartment market.

The tower comprises just 24 full-floor, three-bedroom plus multipurpose room apartments below the two-level penthouse, giving the project a considerably lower density than many of the larger towers being developed across the Gold Coast.

Residents will have access to a pool and spa, gym, sauna, barbecue facilities, private sun lounges, yoga lawn and outdoor beach shower.

The penthouse has been released as part of the final collection of residences at La Mer, with remaining apartments priced from $4.3 million.

Construction is expected to complete later this year, with a fully furnished display apartment now open on level four.

[smartcode_project_cta:default project_id=95606]

ODUS releases $18 million penthouse crowning La Mer Main Beach

<a href="https://www.apartments.com.au/developers/far-east-consortium">Far East Consortium</a> is preparing to commence construction on <a href="https://www.apartments.com.au/new-apartments/640-bourke-street-melbourne-640-bourke-street-melbourne-vic-3000">640 Bourke Street</a> this October, marking the next milestone for the Melbourne CBD development and its higher-end Eliza Collection.

Spanning levels 44 to 68 of the 68-storey <a href="https://www.apartments.com.au/architects/rothelowman">Rothelowman</a>-designed tower, the Eliza Collection has been conceived as a lower-density offering within the broader development, with only five apartments on each floor, dedicated lift access and a collection of resident spaces reserved exclusively for Eliza Collection residents.

The Eliza Collection forms part of Far East Consortium's broader move toward larger-format residences at 640 Bourke Street, where the number of apartments was reduced from earlier plans as apartment sizes increased.

[smartcode_project:default project_id=509 project_image_fid=365685]

"What it's meant for 640 Bourke is we've actually reduced the number of apartments. We've increased the overall size of the apartments. We don't have any studios in here, and what that does for a project is it elevates it," Far East Consortium Director of Sales and Marketing Lauren Sheldon said.

Rothelowman Associate Jun Chang said the design process provided an opportunity to create more generous floorplans.

"We were given the opportunity to be more generous. The apartments became bigger and squarer than any other apartments which had been designed in the CBD before that."

[smartcode_project:default project_id=509 project_image_fid=368869]

That thinking carries through to the Eliza Collection, where the residences have been designed around the space and functionality associated with a larger home, but positioned high above the centre of Melbourne.

Kitchens are equipped with Gaggenau appliances, a butler's pantry, temperature-controlled wine cabinet and sculptural pendant lighting, while engineered timber flooring, stone and porcelain finishes and custom cabinetry feature throughout the broader interiors.

Privacy and security are another point of distinction. Eliza Collection residents have dedicated lift access, while 640 Bourke Street will provide concierge services and secure resident parking. Short-stay accommodation, including Airbnb, will not be permitted within the development.

[smartcode_project:default project_id=509 project_image_fid=365689]

Eliza Collection residents will also have exclusive access to selected amenity spaces across levels one and three of the restored Eliza Tinsley building. These include the Salon with grand piano, an art therapy room, private dining rooms and treatment rooms.

They sit within more than 3,000 sqm of amenity planned across 640 Bourke Street, alongside facilities including a pool, gym, whisky lounge and further social and wellness spaces.

The Eliza Tinsley building itself is central to the wider project's identity. Rather than treating the existing Eliza Tinsley façade as a separate element, Rothelowman used it as a starting point for the architecture of the new tower, with the historic building to accommodate the project's gallery and lobby.

"It's a significant asset and wants to be celebrated and experienced by all residents every single time they go in and out of the building," Rothelowman Principal Stuart Marsland said.

[smartcode_project:default project_id=509 project_image_fid=368872]

The tower will rise behind the retained heritage building at 640 Bourke Street, placing residents within walking distance of Southern Cross Station, Flagstaff Gardens, Queen Victoria Market and the Docklands waterfront.

With construction scheduled to begin in October, Far East Consortium has established an onsite display gallery at 640 Bourke Street, including fully built apartments that allow the project's layouts, materials and finishes to be inspected at full scale.

A fully built Eliza Collection apartment is also available to view at the display suite by appointment ahead of the planned October construction commencement.

Eligible purchasers who buy before construction commences can secure the full available off-the-plan stamp duty savings, subject to eligibility and applicable conditions.

[smartcode_project_cta:default project_id=509]

Far East Consortium brings Eliza Collection to 640 Bourke Street ahead of October construction start

Sydney’s property market is known for high prices, competitive bidding, and mounting pressure on first home buyers. But change is on the horizon.

From late 2025, eligible first home buyers in New South Wales will have access to a new federal government initiative aimed at addressing affordability: the Help to Buy Scheme.&nbsp;

<h2>What is the Help to Buy Scheme?</h2>

The program introduces a shared equity model intended to reduce the upfront cost of entering the property market, particularly in high-demand urban areas such as Sydney.

The scheme operates under a shared ownership structure in which the federal government takes an equity stake of up to 40 per cent for new homes, or 30 per cent for existing dwellings. This arrangement allows eligible buyers to significantly reduce their loan size and avoid the added cost of Lenders Mortgage Insurance (LMI).

Under this model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required. The government’s contribution is not a loan but a co-ownership stake in the property. As such, there is no interest or rent charged on its portion.

Because the government’s equity combined with the buyer’s deposit typically meets or exceeds the 20 per cent threshold, LMI does not apply. The remaining balance, generally between 60 and 70 per cent of the property’s value, is financed through a standard home loan with a participating lender.

The government's equity in the property remains in place until the buyer chooses to repay it voluntarily or until the property is sold. Buyers can buy back the government’s share over time, in increments of at least five per cent, depending on their financial situation.

There is no fixed repayment timeline, but the amount to be repaid will be based on the property's market value at the time of repayment, not the original purchase price.

<h2>How do you qualify for the&nbsp;Help to Buy Scheme?</h2>

To qualify for the Help to Buy Scheme, applicants must meet the following conditions:

<ul>
	<li>Be an Australian citizen at least 18 years of age.</li>
	<li>Be a first-home buyer who does not currently own property.</li>
	<li>Intend to live in the property as their primary residence.</li>
	<li>Earn less than $100,000 per year for individuals, or $160,000 for couples.</li>
	<li>Purchase a property within the regional price caps, currently $950,000 in Sydney, though this is expected to rise to approximately $1.3 million ahead of the program’s launch.</li>
</ul>

While the Help to Buy Scheme does not solve affordability challenges across the board, it does offer a more accessible pathway for a defined segment of the market, particularly younger buyers with moderate incomes who have been priced out of traditional lending routes.

The scheme is expected to commence in NSW in late 2025, as part of a national rollout.

Under the new model, purchasers can enter the property market with as little as a two per cent deposit, well below the traditional 10 to 20 per cent usually required

Help to Buy Scheme: What first home buyers in NSW need to know

The First Home Owners Grant (FHOG) is a government initiative designed to help eligible first-time home buyers by offering financial assistance towards the purchase or construction of a new home.

While the FHOG is a nationwide program, it is administered separately by each state and territory, meaning the eligibility criteria, grant amounts, and property requirements can vary depending on your location. This means that the amount available and the conditions attached to the grant will differ, so it is important to check the specific guidelines for your state or territory.

It’s important to note that the FHOG is just one of several incentives available to first home buyers. In most states and territories, the grant is not linked to stamp duty exemptions or concessions, with the exception of the Australian Capital Territory (ACT). The FHOG is typically a one-off payment, reducing the overall cost of purchasing or building a new home before any stamp duty concessions are applied.

Below, we provide a breakdown of the First Home Owner Grants available across Australia, outlining the specific details for each state and territory.

<h2>New South Wales First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $600,000. For land purchases and owner-builders, the threshold extends to $750,000.

Stamp Duty Benefits: Provides full stamp duty exemption for homes valued up to $800,000, with concessions available for properties up to $1 million.

<h2>Victoria South Wales First Home Owner Grant</h2>

First Home Owner Grant: Provides a $10,000 grant for first-home buyers purchasing or building new homes valued up to $750,000.

Stamp Duty Benefits: Offers full stamp duty exemption for properties up to $600,000, with concessions available up to $750,000.

<h2>Queensland First Home Owner Grant</h2>

First Home Owner Grant: Offers $30,000 for contracts signed between 20 November 2023 and 30 June 2025. The FHOG applies to new homes valued up to $750,000.

Stamp Duty Concessions: Provides additional concessions for properties valued up to $800,000.

<h2>Western Australia First Home Owner Grant</h2>

&nbsp;

First Home Owner Grant: Offers a $10,000 grant for new homes valued up to $750,000 in the southern regions and up to $1 million in the northern regions.

Stamp Duty Concessions: Available for homes valued up to $600,000 for transactions entered into on or after 9 May 2024.

<h2>Australian Capital Territory First Home Owner Grant</h2>

First Home Owner Grant: Replaced by the Home Buyer Concession Scheme, offering full stamp duty concessions for eligible buyers.

<h2>South Australia First Home Owner Grant</h2>

First Home Owner Grant: Provides up to $15,000 for new homes, including houses, apartments, and townhouses. As of 6 June 2024, there is no property value cap for eligibility.

Stamp Duty Relief: Available for new homes and vacant land purchases.

<h2>Tasmania First Home Owner Grant</h2>

First Home Owner Grant: Offers a $10,000 grant for new homes and off the plan purchases.

Stamp Duty Exemption: Between 18 February 2024 and 30 June 2026, first home buyers of established homes valued up to $750,000 receive a full exemption on property transfer duty.

<h2>Northern Territory First Home Owner Grant</h2>

First Home Owner Grant: The Northern Territory provides a $10,000 grant for new homes only. Additional government grants and concessions are available for first home buyers.

Stamp Duty Exemption: The only stamp duty exemption available to property buyers is the House and Land Package Exemption (HLPE).

Eligibility criteria and application processes differ across states. Prospective buyers should refer to their respective state revenue offices for full details on grant availability, conditions, and additional concessions.

Every First Home Owner Grant for new property by state

In the ever-evolving landscape of sustainable architecture and environmentally conscious design, systems and ratings in place can help determine the energy efficiency of residential buildings in Australia.

Australia has multiple building rating systems that evaluate energy efficiency and sustainability in existing and new building designs.

Some systems assess individual building components, while others provide an overall rating for the entire structure.

A rating system ensures that homes are comfortable and energy-efficient, whether you are buying, renovating, or building.

NatHERS (Nationwide House Energy Rating Scheme) is a common way for new homes to meet energy efficiency requirements.

As new developments continue to shape the urban environment, understanding NatHERS ratings becomes essential for developers and homeowners. This article delves into the concept of NatHERS ratings, their significance, and how they contribute to creating energy-efficient homes.

<h2>What is NatHERS?</h2>

NatHERS is a national initiative implemented by the Australian government to promote energy efficiency in residential buildings. The scheme aims to provide a standardised method for assessing the thermal performance of homes, considering factors such as insulation, orientation, ventilation, and building materials.&nbsp;

NatHERS ratings are the most common way new homes meet the National Construction Code's (NCC's) minimum energy efficiency requirements.&nbsp;

NatHERS assessments provide thermal and whole-home ratings for new homes, townhouses, and apartments.

The rating helps evaluate the energy performance of buildings, guides homeowners and developers to make informed decisions about the energy efficiency of their properties, and encourages the construction of more sustainable, comfortable, and cost-effective homes.

<h2>How NatHERS Ratings Work</h2>

NatHERS ratings are determined through four accredited software tools (AccuRate, BERS Pro, FirstRate5, HERO) using a calculation engine CSIRO developed to predict building temperature based on various factors.

The tools can model complex effects of building mass, insulation, window size, and other elements.

The outcome is a star rating that reflects the building's overall thermal efficiency, indicating how well it can maintain a comfortable indoor temperature without excessive reliance on heating or cooling systems.

The star rating scale ranges from 0 to 10, with a 6-star rating being the minimum requirement for compliance with the National Construction Code (NCC).&nbsp;

Achieving a higher star rating demonstrates a commitment to energy efficiency and sustainability, as the building is better equipped to minimise its environmental impact and reduce long-term energy costs.

Anyone can use NatHERS tools, but accredited assessors can provide certified ratings and professional advice.

<h2>Benefits of Higher NatHERS Ratings</h2>

Energy Efficiency: Buildings with higher NatHERS ratings are more energy-efficient, requiring less heating and cooling energy. This reduces the structure's carbon footprint and lowers occupants' energy bills.

Cost Savings: Homes with higher NatHERS ratings are generally more energy-efficient, resulting in reduced energy consumption for heating and cooling. This translates to lower energy bills for homeowners, making sustainable living environmentally friendly and economically viable in the long run.

Environmental Impact: Lower energy consumption directly translates to a reduced environmental impact. Buildings with higher NatHERS ratings contribute to the overall goal of mitigating climate change by lowering greenhouse gas emissions associated with heating and cooling systems.

Improved Comfort: Buildings with high NatHERS ratings offer better thermal comfort to occupants. Proper insulation, well-designed ventilation, and optimal orientation maintain a consistent and comfortable indoor temperature, providing occupants with a more enjoyable and healthier space.

Market Value and Desirability: Higher NatHERS ratings can enhance the market value of a property. As energy efficiency becomes a more significant consideration for homebuyers, a well-rated building may attract a premium price and stand out in the real estate market.

Compliance with Building Codes: NatHERS ratings are a vital component of the National Construction Code (NCC), and compliance with these ratings is often a mandatory requirement for new developments. Local councils and planning authorities may set minimum energy efficiency standards that must be met to obtain development approval.

The Nationwide House Energy Rating Scheme (NatHERS) is a crucial initiative shaping the future of energy-efficient, resilient, and cost-effective homes. With its recent upgrades, NatHERS has evolved into a world-leading tool for the building sector, supporting the global commitment to achieving net-zero emissions by 2050.

Staff Writer

What is a NatHERS rating in new off the plan apartment developments?

Mixed-use developments have gained significant popularity across Australia in recent years due to their unique blend of residential, commercial, and recreational spaces.

Unlike traditional single-purpose developments, mixed-use projects offer a harmonious integration of various functions within a single locale.

Residential units seamlessly coexist with commercial establishments, retail outlets, dining venues, entertainment hubs, and recreational facilities, with the combination not only enhances convenience but also fosters a vibrant lifestyle and a sense of community.

<h3>Convenience and accessibility</h3>

Mixed-use developments are designed with convenience in mind. They often integrate residential units with commercial spaces, retail outlets, restaurants, and recreational facilities, creating a self-contained community.

[smartcode_project:default project_id=114215 project_image_fid=204874]

The proximity allows residents to enjoy the convenience of having essential amenities and services within walking distance. Whether it's grabbing a cup of coffee, going grocery shopping, or accessing healthcare services, everything is conveniently located, saving residents time and effort.

<h3>Vibrant lifestyle and community</h3>

One of the major advantages of mixed-use developments is the vibrant lifestyle they offer. With a diverse range of amenities and communal spaces, residents have ample opportunities to interact, socialise, and build a sense of community.

[smartcode_project:default project_id=107714 project_image_fid=214122]

The presence of parks, community centres, and shared spaces fosters a lively atmosphere, encouraging residents to engage in various activities and events. The vibrant lifestyle within these developments creates a unique sense of belonging and camaraderie among the residents.

<h3>Potential for higher rental yields and property value appreciation</h3>

Mixed-use developments tend to attract a broad range of tenants and buyers due to their versatile nature. This high demand can result in higher rental yields for investors and potentially lead to property value appreciation over time.

[smartcode_project:default project_id=139989 project_image_fid=212887]

The integration of commercial and retail spaces attracts businesses, which can provide a stable rental income stream. Additionally, the popularity of mixed-use developments often drives up property values, making them a potentially lucrative investment in the long term.

<h3>Enhanced security and maintenance</h3>

Mixed-use developments typically have comprehensive security measures in place. With controlled access points, CCTV surveillance, and professional security staff, residents can enjoy enhanced safety and peace of mind.

[smartcode_project:default project_id=108019 project_image_fid=212658]

Additionally, these developments often have dedicated maintenance teams responsible for the upkeep of common areas, landscaping, and infrastructure. This ensures that the overall appearance and functionality of the development are well-maintained, creating a pleasant living environment for residents.

<h3>Live-work-play balance</h3>

One of the key attractions of mixed-use developments is the ability to achieve a desirable live-work-play balance. The integration of residential and commercial spaces allows residents to live closer to their workplaces, reducing commuting time and improving work-life balance.

The proximity to various amenities and recreational facilities encourages an active and healthy lifestyle. Residents can easily access fitness centres, parks, restaurants, and entertainment options, all within the same development, leading to a more fulfilling and convenient way of life.

alisonwarters@gmail.com

The top five reasons to buy in a mixed-use development

When buying a property, everyone needs to be aware of the additional costs that come as part of the buying process.

Often the largest outlay, after the deposit which goes to the bank, is stamp duty.

<h2 style="line-height: 1.38;">What is Stamp Duty?</h2>

Stamp duty is an extra tax to pay the government when you buy land, a property, and other certain assets.

It happens when the legal ownership is transferred. It can also be known as property transfer duty or transfer duty.

<iframe allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="415" src="https://www.youtube.com/embed/C32BWkB5--c" title="YouTube video player" width="660"></iframe>

<h2>Who pays Stamp Duty?</h2>

In some circumstances, you may get an exemption. For some states, you won’t have to pay for stamp duty if you are a first home buyer or a pensioner for houses under a particular price. There are also stamp duty concessions, where you may be entitled to a discount.

<h2>How much does Stamp Duty cost?</h2>

Each state has different rules which affect how much you need to pay. These rules can affect the rate you pay, and the timeframe you will need to pay in. Before you buy land or a property, make sure you check the up-to-date information for your state’s stamp duty.

You can use a free stamp duty calculator online to see approximately how much you’ll need to pay. Find out if you’re eligible for an exemption by enquiring on a project via Urban!

Overall, the stamp duty you need to pay will depend on:

<ul>
	<li aria-level="1">How much your land/property is worth</li>
	<li aria-level="1">Where your land/property is located</li>
	<li aria-level="1">What type of land/property it is</li>
</ul>

Want to find out more? <a href="https://www.youtube.com/@UrbanAustralia?utm_source=YouTube&amp;utm_medium=Video&amp;utm_campaign=Subscribe&amp;utm_id=Subscribe">Subscribe to our YouTube channel</a> for more property videos.

Ellen Walker

Off-the-plan property explained: What is stamp duty?

For most Australians, buying an apartment is one of the biggest financial decisions they'll ever make

The location, floorplan and price are often the first considerations, but in recent years another question has become increasingly important: who is actually delivering the project?

A series of high-profile builder collapses, construction delays and defect concerns have fundamentally changed how many Victorians approach buying off the plan. The collapse of Porter Davis in 2023, which reportedly left around 1,700 homes unfinished, became one of the most visible examples of the risks that can emerge when a construction company fails. <a href="https://www.equifax.com.au/sites/default/files/lpassets/pdf/Final-Business-Market-Pulse-June-Sector-Deep-Dive-Report-2.pdf">Similar challenges across the broader construction sector</a> have left buyers asking more questions before signing a contract.

As Victoria continues encouraging higher-density housing to address supply shortages, transparency is becoming just as important as location or price.

One tool increasingly entering the conversation is the <a href="https://icirt.com/">Independent Construction Industry Rating Tool (iCIRT)</a>, an independent assessment framework designed to help buyers better understand the developer or builder behind a project. Originally developed by Equifax in consultation with government and industry as part of NSW's Construct NSW reforms, the system has since expanded nationally.

<h2 data-end="1519" data-section-id="7nmx3" data-start="1492">What is an iCIRT rating?</h2>

Most Australians are familiar with independent ratings in everyday life.

We compare ANCAP safety ratings before buying a car. We look at Health Star Ratings in supermarkets. Banks rely on credit assessments when lending money.

Until recently, however, there has been very little independent information available to help apartment buyers assess the business responsible for delivering a residential project.

That gap is what iCIRT was designed to address.

Builders, developers and other construction professionals with an iCIRT rating have demonstrated high-trust characteristics through an independent, evidence-based assessment across six criteria: Character, Capability, Conduct, Capacity, Capital and Counterparties. This involves a rigorous review of financial health, past project track record, and ethical conduct. Crucially, an iCIRT rating could help provide property buyers with confidence that they are working with a professional who has demonstrated the capability, capacity, and willingness to return and rectify issues.

Importantly, iCIRT is not a recommendation to purchase a particular property, nor is it a traditional credit rating. It is an independent assessment framework designed to provide objective information about a construction business using a <a href="https://icirt.com/sites/default/files/2025-08/iCIRT-Methodology-Issue1-May-2021.pdf">published methodology</a>.

The system has been widely adopted in New South Wales, where more than one-third of medium and large residential builders and developers now hold an iCIRT rating, representing over two-thirds of the state's residential building market by value as of 2025/26.

<h2 data-end="3126" data-section-id="h6ohtj" data-start="3084">Why buyers are doing more due diligence</h2>

For many buyers, particularly those purchasing off the plan, the biggest risk isn't whether they'll like the kitchen finishes.

It's whether the project will be delivered on time, to the expected quality, and by a company capable of completing the development.

<a href="https://icirt.com/sites/default/files/2026-07/iCIRT%202025%20Consumer%20Survey%20Report%20v05.pdf">Consumer research commissioned by iCIRT</a> found more than half of respondents believed current protections do not adequately safeguard buyers from builder insolvencies or defective projects. Other research found 88 per cent of prospective buyers would seek independent ratings or due diligence before purchasing, while 90 per cent said trust in construction professionals is essential.

That doesn't mean buyers should rely on a single rating alone.

Independent legal advice, understanding the contract, and seeking financial advice all remain important parts of the due diligence process.

However, an independent assessment can provide another source of information alongside those traditional checks.

<h2 data-end="4138" data-section-id="pquzxc" data-start="4094">Trust is becoming a competitive advantage</h2>

The conversation isn't only changing for buyers.

Developers are also recognising that trust has become an increasingly important part of the sales process.

Five years ago, purchasers typically asked about floorplans, finishes and settlement dates.

Today, sales teams are increasingly being asked about the developer's experience, financial stability, previous projects and construction partners.

For companies with strong governance and established delivery records, an independent iCIRT rating provides another way to demonstrate those credentials before buyers even visit a display suite.

According to Equifax, the assessment can also help businesses drive sales and <a href="https://icirt.com/resources-for-business/icirt-rating-helps-scion-secure-high-value-projects">secure high-value projects</a>, as well as identify operational improvements and <a href="https://icirt.com/resources-for-business/mirvac-reinforces-brand-trust-and-quality-independent-icirt-rating">attract top talent</a>.

<h2 data-end="4962" data-section-id="1j54ng5" data-start="4912">Beyond buyers: lenders are paying attention too</h2>

The influence of independent construction ratings is also extending beyond consumers.

According to Stamford Capital's Real Estate Debt Capital Markets Survey, an increasing number of lenders now incorporate iCIRT ratings into their due diligence processes when assessing residential development finance applications.

The survey found lender adoption has continued to rise, with many respondents saying independent assessments provide additional insight into governance, counterparties and delivery capability beyond traditional financial analysis. Some lenders also reported declining funding applications where businesses had poor or no ratings.

As construction costs remain elevated and access to development finance becomes more selective, demonstrating credibility is becoming increasingly valuable.

<h2 data-end="5801" data-section-id="1qazuxs" data-start="5772">What it means for Victoria</h2>

Victoria's apartment market is entering a new phase.

The state is seeking to accelerate higher-density housing while simultaneously introducing reforms aimed at improving confidence in residential construction.

For buyers, that means there are more tools available than ever before to research the businesses behind a project.

For developers, it signals that transparency is becoming another point of differentiation in an increasingly competitive market.

Buyers are asking more questions than ever before and increasingly expecting independent information, not just marketing material, before making one of the biggest financial commitments of their lives.

Find out how to get iCIRT rated <a href="https://www.icirt.com/sites/default/files/2025-08/iCIRT-Infographic-Assessment-Process-Final.pdf">here</a>.

<hr data-end="6469" data-start="6466" />
The information contained in this article is general in nature and does not constitute personal, financial, legal or tax advice. It does not take into account your personal objectives, financial situation or needs. Therefore, you should consider whether the information is appropriate to your circumstances before acting on it and, where appropriate, seek independent professional advice.

This article contains links to third-party websites. These links are provided for convenience only. Equifax Australia does not control and is not responsible for the content, accuracy or privacy practices of external sites.

Copyright © 2026 Equifax Australia Information Services and Solutions Pty Ltd. All rights reserved.

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

<html><body>
With 15,000 suburbs across the country, investors are spoilt for choice.
Especially when – if you had two lots of $9.95 to spend – Australia’s two leading property investor magazines simultaneously published their annual guides on the best 100 suburbs in which to buy.
It’s a year since <a target="_blank" href="https://www.propertyobserver.com.au/australian-capital-territory/of-15000-suburbs-21-rise-to-the-top-as-worth-a-look-for-investors/2011072750933">Property Observer ascertained there were 21 hotspots that featured on both annual hotspot lists.</a>
The lists represented the shared outlook of two dozen property industry talking heads who helped Australian Property Investor and Your Investment Property compile the lists.
Sadly, few have performed very well, with Property Observer unable to find much evidence of double-digit hotspot growth in the list.
But more than half of the 21 offerings recorded negative momentum.
Ainslie in the ACT was said to be well located, with good services and still affordable, despite 12% average annual growth over the past decade leading to 2011. It all sounds rosy but RP Data figures show the median house price has actually dropped 5% over the last year. Unit prices experienced a slight growth of 1.5%.
Warrnambool in Victoria was said to have good prospects as a town in the centre of a regional Victorian district with gas-fired and geothermal power stations, plus wind farms. It was forecast to have a strong unit market. The figures show house prices have stayed unchanged and unit prices have dropped 5%.
In Queensland, Townsville, Gladstone and Rockhampton were all expected to do well. Townsville wasn’t brilliant – house prices dropped 8.9% and the unit price median plummeted 21.6%. Gladstone has been hot – but just for houses, not units. House prices in Rockhampton have risen 4.4%, while units have dropped 1.0%.
Again in Queensland, this time in the Surat Basin, the mining towns of Toowoomba and Chinchilla were both tipped to do well. In Toowoomba, house prices have risen 4.2%, while unit prices have dropped 5.5%. RP Data shows the median house price in Chinchilla has risen 4.7% but unit prices have dropped 1.1%.
In Brisbane, the suburb of Paddington was the only entrant in the 21. The lists celebrated its easy CBD access and lifestyle at affordable pricing for unit landlords. House prices dropped 5.1% over the year though units grew 4.4%.
Sydney had three suburbs in the list with Dulwich Hill, Tempe and Baulkham Hills. House prices in Dulwich Hill dropped 1.6% and unit prices dropped 1.1%. In Tempe RP Data noted house prices dropped 10.9%. In Baulkham Hills house prices rose 1.4% and unit prices fell 1%.
Bathurst and Port Macquarie were NSW’s two regional appearances on the list. House prices in Bathurst rose 3.4% and unit prices rose 1.3%. Port Macquarie wasn’t so lucky with house prices dropping 3.9% and unit prices down 5.8%.
<img alt="Hotspots-eBookv3-9" src="/images/stories/2012/Hotspots-eBookv3-9.gif" height="689" width="470">
WA’s only appearance on the list was Geraldton, where house prices have slipped 0.3% but unit prices have skyrocketed 27.3%.
Melbourne was expected to do well with the five suburbs, Broadmeadows, Thornbury, St Kilda, Brunswick and Balaclava, all appearing. Broadmeadows house prices fell 9.2% and unit prices dropped 13.9%. In Thornbury, house prices fell 4.2% and units fell 2.9%. In St Kilda house prices fell 3.2% and unit prices fell 2.8%. Brunswick house prices fell 6.5% but unit prices rose 2.4%. And in Balaclava, house prices fell 9.8% and units increased 0.3%.
In South Australia, Kensington and Port Noarlunga both featured on the lists, respectively four and 27 kilometres from the Adelaide CBD. Kensington house prices fell 10% while unit prices increased 1.4%. In Port Noarlunga, house prices slipped 0.1% with no data for units.
So from the 21 offerings, only Gladstone houses and Geraldton units withstood the current downtown. With double-digit growth, they stand, at the moment, above all other nominations.
For advice on navigating hotspots, download our free eBook: <a target="_blank" href="http://propertyobserver.com.au/ebooks/free-ebook-tools-for-getting-through-the-hotspot-tipping-maze">Tools for Getting Through the Hotspot Maze.</a> 
</body></html>

awalsh-7Ub9EypybQ

The 21 hotspots that weren't

<html><body>
Rain delays has prompted Australand to reduce its targeted lot sales in its Greenhills Beach residential development in the Sutherland Shire from 170 to 135 for 2012.
And sales at Clyde North, its Melbourne greenfields project, have also slowed, with south east Queensland sales still at historical lows.
But the property group's sales was quite resilient in its $89 million full year net profit after tax representing a six percent boost.

The Greenhills Beach project, two kilometres from Cronulla, has land priced from $690,000 with beach lots priced from $845,000 and lakeside lots priced from $850,000
Despite the lot sales slowdown, Greenhills Beach remains among Australand’s top 10 residential projects and is listed as one of the project contributing to the strong first-half year result from its residential division.
Australand has also downgraded lot sales expectation in it Clyde North project on the outskirts of Melbourne with 140 lots expected to be sold in 2012 financial year compared to previous forecasts of 168.
In relation to both these projects, Rod Fehring, head of residential at Australand, said strong earlier momentum in both these projects had seen the developer release lots to the market earlier, but anticipated stronger sales had not eventuated.
The Clyde project has been impacted by the overall weaker state of the Melbourne market while the Shire project had been impacted by rain delays.
Overall, Australand identified South East Queensland and Melbourne as the two most challenging residential markets as it reported a 12% rise in revenue from its residential businesses to $260 million for the six months to June 30.
Lot sales declined to 489 compared to 605 in the corresponding period last year but contracts on hand increased from 605 and 824.
The average value of lot sizes were higher than the previous period.
The strongest performing residential project were Cockburn Central (WA), Kangaroo Point (Queensland) and Parkville (Victoria) with key contributions from residential land projects in Greenhill Beach (NSW) and Greenvale (Victoria).
The residential division now holds 1,316 contracts in hand as of June 30, an increase of 40 % more than the 951 contracts held at the end of December with Australand expecting 59% of these contracts to be realised in the second half of the year.
Australand managing director Bob Johnston said solid momentum from 2011 had been carried into 2012, but “consumer clearly remained cautious and house prices have eased.
Fehring described the Melbourne market, where Australand has 54% of its projects, as one that has now ticked over into “mild oversupply” although this oversupply is not “uniformly spread” with activity impacted at the lower end of land markets and high-end discretionary markets.
He says sentiment has softened with a weaker employment outlook, while the ending of first-home buyer concessions had also pulled demand forward and is expected to impact on the market in the future.
But he says "earnings resilience" is being supported by the diversity of the projects in its pipeline with its Point Cook project among the top performers
Australand has 11 Victorian projects underway with over 500 contracts in hand, including projects in Carlton and Cranbourne West.
Australand has only a small exposure to the South East Queensland, where 9% of its residential projects are located.
It says activity levels in this market remain at historic lows with interstate migration remaining low though affordability has improved relative to other markets.
Its inner city projects at Kangaroo Point and Hamilton have been among the stronger performers which are attracting enquiries and sales.
Australand has stuck with its forecast of 48 lots sales at Kangaroo Point for the financial year with an average expected price of $980,000
Australand says WA, where it has 14% of its projects, is showing improved fundamentals.
“Perth market fundamentals have improved significantly, listing have normalised with vacancy rates tightening,” says Fehring.
Across the entire residential portfolio, Australand is targeting 15 to 20% rise in earnings before interest and tax for the second half of the year, underpinned by strong contracts that will close in this period.
It also re-affirmed full year distribution guidance of 21.5 cents, but said this was dependent on sentiment not weakening further.
For the half year to June 30, Australian reported a 5% rise in operating profit compared to the same period last year.
Johnston called this a “credible result” given the weak consumer sentiment.
“Trading conditions across the board remain challenging,” he said.
Australand reported statutory profit of $90 million for the half year compared to $85 million in the corresponding previous period.
<img width="400" height="225" src="/images/stories/2012/greenhills.gif" alt="greenhills">
</body></html>

lschlesinger-FZcF9M3vE6

Sales slow in the Sutherland Shire as Australand identifies several residential weakspots

<html><body>
Hotspot suburbs are the Holy Grail for property investors, but they oughtn’t be.
By the time of common knowledge or publication in national property magazines on newstands, locations with a red-hot reputation have most likely passed their invest-by date.
Picking and purchasing gems before they have got their shine is the wisest strategy.
The Residex forecaster John Edwards says this involves buying at the right price, in the right place and at the right time. Not an easy trifecta. 
Investors shouldn’t totally ignore the tipsters’ industry that surrounds the spruiking of hotspots, but sensibly should be seeking out individual property that represents good buying value, where ever it’s located. The much published hot spot lists are a terrific resource, but I'd suggest they be more a reference book, and template for individual suburb research, rather than a call to action. 
Much of the current hotspots buzz centres on mining towns.
And there’s no better example of the hotspotting herd getting it wrong that Zeehan, the picturesque small west coast Tasmanian town with a population of around 850.
It saw significant speculative investment from 2003 to 2008, largely driven by mainlanders seeking dwellings with good rental returns at the cheapest end of the national market.
The investor demand had been driven by a number of exposés of the town promoting it as a hotspot.
Things really took off after a 2006 segment on Channel 9’s A Current Affair that highlighted the town as the cheapest for housing in Australia.
Prices that were around $10,000 in the early 2000s, jumped to $80,000 post the ACA story and then typically went as high as $150,000 at the time of the Avebury nickel mine opening. They’re now back to $100,000 according to a recent Australian Housing and Urban Research Institute (AHURI) study by Professor Andrew Beer.
While the June 2008 opening of the mine assisted prices along, the mothballing of the mine in December 2008 – and the loss of almost 200 jobs – has since caused house prices to plummet dramatically.
In its wake there’s been a procession of residential investors defaulting on their mortgages and business closures are all too common.
These have continued into 2012, with the worst case found by Property Observer reselling at $55,000 – its 2004 sale price – after having peaked in 2008 at $190,000.
Currently, Zeehan’s housing market is described as depressed by Beer and unlikely to recover from this position until the Avebury mine reopens. Property Observer has noted however a few very small upticks since 2011, suggesting it might be bouncing along the bottom.
But with poorly maintained stock, lack of services and funding for local infrastructure, along with the poor overall Tasmanian economy, it’s very much a case study of a town in decline.
Professor Andrew Beer wrote in June 2012 that Zeehan was emblematic of the mining industry generating a whole new housing dynamic with great volatility.
Of course, the mere term “hotspots” implies volatility – investors getting in and out of a market in quick succession. None of the wise "property is for the long haul" strategy embedded in this approach.
Boom/bust markets ought to be treated with utmost caution – and are not necessary within the sustainable portfolio of the savviest of investors.
It is true that sometimes the greater the risk, the greater the reward, so for some it represents an engaging endeavour.
Property Observer has the advantage of cherry-picking some of the good ideas of many experts with national profiles.
But do your homework on what's suitable for your individual investment strategy.
Our recently published eBook – <a href="https://bit.ly/O6ekCX">Tools for getting through the Hotspot Tipping Maze</a> – doesn’t intend to scare investors off hotspots altogether, but to ensure that they have their wits about them.
Not only when it comes to the property and its location, but also its promotion.
Investors ought to bear in mind who is making the recommendation, what interest they may have in the hotspot and whether they will earn income from the sale of real estate in this area. By all means proceed with a good deal purchase, so long as you are happy with the transaction transparency.
Investors need to arm themselves with sufficient research to make a considered investment.
The due diligence should include a thorough investigation of the local rental market, vacancy rates in the area and zoning issues. Investors should also do a study incorporating a cashflow analysis, looking at return on investment and depreciation.
And endeavour to bounce off any investment ideas with a team of advisors. Start with an estate agent or two and add an accountant. Try to touch base with the local valuer. Ensure you have a good solicitor. Then maybe extend it to include an architect, or town planner, if there’s the possibility for improving its value beyond its current state.
Remember of course even the local experts can get it wrong, not just the tipsters in the national magazines.
For advice on navigating hotspots, download our free eBook: <a target="_blank" href="https://bit.ly/O6ekCX">Tools for Getting Through the Hotspot Maze.</a>
</body></html>

jchancellor-FAypfDUnLy

Why hotspot suburbs should not be the Holy Grail for property investors

<html><body>
Inner city infill residential property developments have the advantage of being close to the CBD and benefiting from nearby established infrastructure, but the returns can be mixed, Monique Sasson Wakelin has warned.
She says investors should tread carefully when considering these investments.
“Done well – built in a good inner suburban location, with quality design and construction – a new estate can perform reasonably well, eventually,” says Wakelin, director at Melbourne-based Wakelin Property Advisory.
“But they do tend to struggle capital growth-wise for the first few years. Moreover, they never seem to quite match the performance of top grade, established investment property."
“When the property market is booming, it is understandable that some budget-constrained investors who struggle to outbid others for established property resort to buying in new estates."
“But in a slow property market where competition is light, and it is possible to buy into the established inner suburban market, there’s really no need to settle for second best.”
As an example, house prices in an established suburb like Albert Park have risen 321% over the past 15 years, while a suburb like Port Melbourne, where Mirvac built its Beacon Cove project on former industrial land in 1996, have only recorded 249% growth.
Over the last three years, houses prices have risen by 51% in Albert Park compared to 26% in Port Melbourne.
In a column penned for the Eureka Report, Wakelin writes that while much of the new housing construction will take place in fringe suburbs, there is a drive among governments and developers to reassign large tracts of former industrial and other redundant land within inner and middle suburbs for residential use.
Wakelin says there are a number of positives about infill development closer to the city compared to new greenfill housing in the fringe suburb counterpart.
“The most obvious is location. Many of these new residential estates are only a few kilometres from the CBD, as opposed to 40 or 50 kilometres,” says Wakelin, writing for the Eureka Report.
Aside from shorter commutes to the city, she says the other positive factors in favour of infill developments are the existing hard infrastructure in the surrounding area (roads, schools, childcare facilities, medical facilities) as well as closer proximity “to the things that give an area a 'soul’,” – shops, cafes and restaurants.
But she warns investors to keep in mind the experience of Beacon Cove in Port Melbourne, which shows that there is a lifecycle for infill developments.
She quotes Biggin &amp; Scott Port Melbourne agent David Lack, who says there were long queues and people camped overnight when the project first came on the market in 1996.
But according to Lack, the Beacon Cove properties struggled at first on the resale market in the early years and it was only from around 2001 that they started to show a good profit on resale.
Lack also says Beacon Cove properties may have been overpriced at their first offering, asking $305,000 for a three bedroom house.
“The lesson from Beacon Cove for investors considering buying into infill developments is to tread carefully,” she says.
</body></html>

Investors need to be aware of cyclical ebbs and flows of inner city new housing projects like Beacon Cove: Monique Sasson Wakelin

<html><body>
On Saturday I attended Australia’s biggest property investment convention – the annual Home Buyer &amp; Property Investor Show. And, what a day it was! Crowds were in high attendance on Saturday, and I’d even argue there were more people in attendance than last year’s event.
Today I thought I’d cover off some highlights of the event by expanding on some trends I noticed while roaming around the Sydney Convention &amp; Exhibition Centre. US property investment, while always present at this expo, easily had the greatest presence I’ve seen, in terms of the number of exhibitors in attendance. I counted at least six different exhibitor stands of companies with American investment products and offerings. There were a variety of offerings from these companies; some offering completely integrated finance and property sales solutions; others offering only the property purchase process in itself, but across many different US cities/markets. There was even one company, Select American Homes, that offered property only (no finance) to exclusively one market – Atlanta, Georgia. I sat in on a seminar from them and was quite impressed as to the scope of their offering. This company had an integrated Australian and American team who, while not offering or assisting with finance, charge one lump sum fee that covers off the entire acquisition, renovation, LLC company structure (for finance), and ongoing tenant property management. Their degree of due diligence on their focus city was second to none. The sophistication of US property investment options on offer at the show is, in my mind, an indication of the degree of maturity that American property investment has reached in the Australian marketplace. A few years ago we’d have been lucky enough to hear from perhaps one or two such companies, with a “take it or leave it” approach to their offering. Fast-forward to today and the degree of sophistication and product offerings in the US market is clearly apparent. Some, including myself, would argue that the jury is still out when it comes to success in this type of investment, but judging by the crowds flocking to the stands in droves, clearly interest is at an all-time high.
<img src="/images/stories/2012/show-2.gif" alt="show-2" height="300" width="400">
(photo taken Sunday 5pm suggesting sales tally after three days spruiking)  source Jonathan Chancellor 
There was also an increase in non-US offshore property investment options. Luxury high-end villa developments in Bali, resort-style beachfront developments in Thailand, and also one company focusing entirely on New Zealand were all present. The New Zealand market has had substantial growth in the last two years (compared to flatter growth in the two years previous to this), and does offer some interesting incentives, such as zero capital gains tax. Another trend I observed was the offerings from the finance exhibitors. While seeing many traditional bank and non-traditional lender exhibitor stands present was nothing new, seeing their primary product offerings all together did highlight a common theme. The interesting trend I noticed was that most banks and non-traditional lenders present were offering incentivised loan products. Most of these were some sort of cash back or gift voucher promotion (UBank, ING Direct and RAMS Home Loans were all offering vouchers or gift cards to the value of $500-$1,000), which may seem like one of the oldest tricks in the book, but with today’s low-rate environment giving way to highly competitive product offerings from lenders, vouchers and cash-back schemes must be an easy way for these finance providers to get noticed. Also on finance, I noted an increase in the presence of superannuation financiers for investment property specifically. Three exhibitors I spoke to were all offering finance, leveraging the initial deposit of a superannuation fund to become a self managed super fund investment property. One of these even operated exclusively in using one’s SMSF to purchase, yes, you guessed it, US properties with it. This could be a real game changer. <a href="https://www.propertyobserver.com.au/residential/why-buying-property-with-super-is-hard-for-young-and-low-income-investors-cameron-mcevoy/2012042254378">I wrote not too long ago</a> about the challenges of drawing from one’s superannuation fund to finance a deposit for an Australian investment property. The biggest challenge was that with Australian investment property, you’d struggle to find any property for less than, say $200,000, that offered great scope for growth. This means that to “unlock” enough superannuation for an initial deposit, you’d need to reach a seriously big “critical mass” of super before you could act on it. For most Australians, this means you’d have to wait for your super fund to grow a big enough balance (either organically, or by contributing additional funds other than that of your employers’ in to it). However, with US properties one can enter the market for as little as $30,000 or so, meaning a much smaller initial deposit from one’s superannuation fund. It will be interesting to see where and how this trend develops.
<img src="/images/stories/2012/show-1.gif" alt="show-1" height="300" width="400"> So what was new and trending well in the Australian property market then?
Granny-flat developer exhibitors had more presence than last year. Interestingly, I also observed several granny-flat specialist exhibitors at the Sydney Home Show (another show that is more geared towards home owners and home renovators versus property investors, however there is a degree of crossover between both of these). Again, it was not about the volume of exhibitors specialising in granny-flat offerings, but the variety and sophistication of the products and solutions they were selling. Some of them offered purely the kit homes; others offered end-to-end planning, design, construction, fencing, water main splitting and driveway allocation all as part of one offering. There were also a couple of exhibitors focusing on property management, more so towards “portfolio management” as opposed to singular investment property management. Some providers were offering 4% flat rates for the greater Sydney area, with others offering from 5% across any state and territory in one’s portfolio. Another way to observe the popular topics and ideas trending well was by looking at the seminar calendar and the topics covered within. One big shift this year compared to previous years is the volume of seminars geared towards knowing which markets are currently in the best position to start an investment career in, along with superannuation in general (buying property leveraging your superannuation, and also thinking about “superannuation-gearing” versus “negative-gearing”). All in all, an excellent and busy few days, with a great deal of information on offer and some industry “juggernaut” voices providing great integrity and wisdom. Bring on the <a href="https://www.homebuyershow.com.au/melbourne/">https://www.homebuyershow.com.au/melbourne/</a> next show!
</body></html>

cmcevoy-Go82SmsJA9

Investor eyes on the USA by Sydney Home Buyer & Property Investor Show attendees: The wrap up

<html><body>
Buildings in Melbourne will fling their doors open to the public in the fifth annual Open House Melbourne event.
This year 100 buildings with otherwise restrictive access will be open for public tours over July 28 and 29.
Open buildings include underground substations, council buildings, office buildings, architectural curiosities, university and hospital research labs, churches, museums, theatres and other places of historical, architectural, technological or sustainable interest.
Spokesperson Robert Larocca says some highlights this year include Gate Lodge at the Melbourne General Cemetery, the Port of Melbourne Boat Tours and the Portable Iron Houses.
“Many Melburnians are familiar with the Gate Lodge at the Melbourne General Cemetery but have never had the chance to go inside. The Lodge is classified by the National Trust and will be open on both days,” Larocca says.
“For the first time Open House features a tour of a working port. On the free tour visitors will learn how the Coode Canal, built in 1886, opened up the port and see the Victoria Dock, which was constructed in 1892. While not part of this tour, Princes Pier is also part of the program.”
“The three portable iron houses in South Melbourne are a unique remnant of a former time when innovative ways had to be found to house the new city’s population,” says Larocca. “First built in around 1850 the portable houses enabled the colony to provide good quality housing entirely sourced overseas.” Larocca says over five years Open House Melbourne has become a major winter event in the city, with last year’s event attracting 106,000 visits to 75 buildings. One highly anticipated location this year is the supposedly haunted St Kilda Esplanade Vaults, originally built in 1891 as arch supports for raised tram tracks.
Larocca says the most popular buildings from 2011 are back and new additions include the new Royal Children's Hospital, the Hamer Hall redevelopment and a host of residential buildings.
<cite><a href="https://www.openhousemelbourne.org.">For more information visit the Open House Melbourne website</a>. </cite><cite></cite>
</body></html>

Open House Melbourne will see buildings citywide fling open their doors

<html><body>
Sydney achieved an auction clearance rate of 63.6% over the weekend of July 21, according to Australian Property Monitors (APM).
APM has released a list of results from auctions in Sydney for the weekend of July 21. 
<a href="https://domainmastheads.homepriceguide.com.au/saturday_auction_results/Sydney.pdf" target="_blank">Click here</a> for the auction results, and click on each street address to see the property's marketing.
</body></html>

po-LsXgBTHBmX

Sydney achieves 63.6% clearance rate: Weekend auction results

<html><body>
{yoogallery src=[images/stories/2012/07//julylittlebay]}
Sydney auction vendors had their best Saturday result for two years, as limited supply and good demand boosted the clearance rate to 63.6%.
There were sales totalling $99 million, according to Australian Property Monitors.
It represented a jump on the 56.6% of the prior weekend and the 62.9% of the same weekend last year.
The top Sydney sale was an incomplete $2.5 million four-bedroom Little Bay house that sold through Mint 360 Property agent David Gray.
There were four bidders after 12 contracts were issued. The top bidder increased their offer to secure the offering.
It was estimated at least $600,000 needed to be spent having been unfinished for over two years ago. 
It was a mortgagee in possession sale, the then 525 sqm  building block having last sold in 2006 at $2,325,000. Neighbouring blocks of 625 sq m had fetched as high as $3 million.  
The virtual beachfront reserve house was in the Landcom developed estate within the master-planned coastal enclave Prince Henry development site.
It had been listed in October last year with hopes of reaching $3.2 million.
It was described then as an "unfinished masterpiece at $2 million below cost" when marketed through Michael Caspers of Geoff Speers Ltd.
Sydney’s median house price on the weekend was $817,500 and $592,250 for units.
Melbourne’s median house price was $634,000 and $451,500 for units, according to the Real Estate Institute of Victoria.
Melbourne agents secured a clearance rate of 62% from its 360 weekend listings compared to 59% on the prior weekend and 57% on the same weekend last year, according to the REIV.
“The auction market has clearly returned to trend with the past fortnight's results being in line with the year-to-date clearance rate,” said the REIV chief Enzo Raimondo.
Brighton recorded the weekend's dearest sale which was $2.75 million. It was a newly built two-storey house designed by architect Jon Friedrich with four bedrooms and four bathrooms. It came with a cinema, a 500-bottle wine-tasting room and a gymnasium and pool. It was sold by Nick Johnstone Real Estate.
Next weekend the REIV expects around 500 auctions.
</body></html>

Little Bay mortgagee sale headlines Sydney's best weekend auction rate for two years

<html><body>
As debate swirls as to the longevity of the mining boom, Westpac's decision to remove the remote NSW town of Broken Hill from a list of risky single-industry towns is certain to fuel debate about whether the bank has made the right call.
All the other towns on Westpac's list of single-industry towns - including Moranbah, Blackwater, Port Hedland and parts of Karratha - are heavily reliant on the mining industry, with Westpac effectively concluding that double-digit annual house price growth and double digit rental yields are not sustainable in the long-run.
According to Westpac, Broken Hill and the other mining town taken off the list - Kalgoorlie- Boulder in WA - have house price growth that has pulled back and rental yields in a more sustainable range.


“Broken Hill is still reliant on mining, but it has diversified into tourism. There are now lower mortgage delinquency rates, while house prices have slipped back and rental yields are between 5% and 6%," says Westpac spokesperson Danny John.
The bank's decision to update its list comes as a new report from Deloitte Access Economics says the mining boom may be over in just two years.
"The strong bit of Australia's two-speed economy won't stay strong for more than another two years or so'," says the report, authored by Chris Richardson.
"Mining companies are making it clear the current spike in investment is due to decisions taken a while back, whereas we are getting few new mining mega-projects across the line," says Richardson, who adds that the peak in mining projects may not be far off.
The Deloitte report does provide some vindication for Westpac ruling Broken Hill to be more than just a mining town, noting that energy giant AGL is currently constructing a new solar farm at Broken Hill.
But Westpac's decision to exclude Broken Hill from a list of “single-industry” towns has bemused LJ Hooker Broken Hill principle Jim Hickey.
“It seems very strange that Westpac would do that for Broken Hill under the current climate as I can’t remember it even being this bad in the housing/investment industry in my 27 years in the property industry and previous to that as a lending officer with the Rural Bank,” Hickey tells Property Observer.
“Broken Hill is very much a one industry town. If the mines fail, we will all fail,” he says.
Hickey says he has not sold a property to an investor since the GFC.
“I actually advertised a block of three units last year returning $19,500 per annum at $195,000 in Adelaide, Melbourne and Sydney and never got a phone call where previously my phone would have gone mad,” he says.
Hickey say the market has gone quiet again after enjoying five reasonable months of sales over the past six months.
Despite Hickey's concerns, figures compiled by SQM Research show that rents and median family income in Broken Hill has not risen at the kinds of unsustainable rates seen in places like Port Hedland (where houses rent for as much as $3,000 per week).
According to SQM, rents in Broken Hill have risen from $120 per week to $135 per week between 2006 and 2011 while family income has risen from $827 to $876 per week.
Realestate.com.au lists 323 properties for sale in post code 2880 (Broken Hill), among those a number of properties showing high rental yield potential, but below the 16% returns on offer in some mining towns.
Among those listed for sale aimed at investors is a <a href="https://www.realestate.com.au/property-house-nsw-broken+hill-110323293">two-bedroom cottage on a 532 square metre lot </a>listed by Zeta Bennett from First National Real Estate.
The property is listed for sale at $105,000 and Bennett says investors can expect rent of $200 per week for a property in this price range, equating to a yield of 9.9%
Bennett also has<a href="https://www.realestate.com.au/property-house-nsw-broken+hill-107563493"> a three bedroom house on O'Farrell Street on a 1,000 square metre block</a> asking $159,000 with rental expectations of $185 per week. This gives an indicative rental yield Saveof 6.05%
Despite disagreeing with Westpac's assessment of Broken Hill, Hickey says there are some “very good things on the horizon” such as the Wind Farm at Silverton purchased by energy group AGL, which is due to proceed.
AGL have also received approval for a large solar farm to be split between Broken Hill and Nyngan with energy provider purchasing 200 acres of land close to town.
“Hawsons (Carpentaria) Iron Ore project looks on track and they are completing their second-phase feasibility study at present.
"A cobalt mine project looks like it will go ahead approximately 28 kilometres from Broken Hill,” he adds, following the discovery of cobalt deposits several kilometres in length and up to 300 metres wide by Broken Hill Prospecting.
“[So] mostly still mining related and therefore still a one industry town.
Westpac took Broken Hill off its single-industry list in mid-June with a spokesperson saying the town had diversified into tourism while house price growth and yields were now back at sustainable levels.
</body></html>

Tourism helps Broken Hill shed its one-horse mining town investment status - as Deloitte's questions mining boom longevity

<html><body>
The historic Burrawang Cafe and Bower Cottage in the Southern Highlands will go to auction on August 26, using a controversial selling method known as the “reverse auction” or “Dutch auction”.
The property, at 11 Hoddle Street in Burrawang, has a starting auction price of $1.68 million and last traded for $690,000 in June 2002, according to RP Data records.
The café has been listed for sale since July last year with an original asking price in excess of $2 million.
It will be reverse auctioned by well-known auctioneer Damien Cooley.
Under a reverse auction, the price starts at market value (set by the vendor) – above the reserve price – and decreases until a bid is placed that is the winning bid. The winning bid is the first bidder to put their hand up.
"As a visual aid there will be a red and green light used at the auction and if a buyer has not put up their card before the price reaches the vendor’s bottom line then a red light will be displayed and the auction will be stopped. While ever the green light is on the property can be bought, " explains Cooley.
The reserve price is not disclosed beforehand and only becomes known once the red light appears.
Cooley says he believes this to be a "really different, exciting and inventive way of marketing a property" and says he is thrilled to join  Mooney and property owner Garry Harding in "performing this unique auction method".
To encourage more people to take part in the auction, Harding, has placed a $10,000 reward payable to anyone who finds the final official buyer.
If no one introduces the buyer then the buyer receives the $10,000 as a rebate off the selling price.
Burrawang Cafe is located in the main street of Burrawang, about 12 minutes to Bowral.
It dates back to the 1860s and has been fully restored.
The café and Bower Cottage (also of 1860s vintage) stand on a half-acre (0.2-hectare) block, and both are currently leased on rolling monthly leases.
Burrawang General Store Cafe is a fully operational 100-seat timber restaurant featuring floodlit barrel ceilings. It is fully licensed and includes a 3,000-bottle cellar, a landscaped and manicured English garden and a separate office.
Bower Cottage is a fully renovated three-bedroom weatherboard home on the same title complete with a promenade balcony and polished floors. It features a living and dining area with garden views, a fireplace with access to an alfresco entertaining area. It also includes a seperate studio.
The property is being sold by Raine &amp; Horne agent Rick Mooney.
Mooney tells Property Observer the vendor has requested a reverse auction, as he believes it will attract more buyers.
“We are confident we will get a lot of enquires and that it’s a good idea."
Mooney says letters have been sent to the NSW Department of Fair Trading and Real Estate Institute of NSW to ensure they are the “front foot” regarding the legalities of this controversial auction technique.
“We want this to be a positive story,” he says.
Christian Payne, president of the REINSW, says that officially the institute has not discussed the auction or taken a view on the methodology.
“It’s certainly been used to sell fish and tulips,” he says, in reference to its use at the Sydney fish markets and the origins of the technique – selling tulips in Holland for over 100 years.
Payne says the current legislation was not written with reverse auctions in mind and says regulatory issues could arise as a result of the Southern Highlands auction.
Speaking in his capacity as a real estate agent and general manager of Payne Pacific Real Estate in Cronulla, Payne says the reverse auction has “question marks all over it”.
His primary concern is that estate agents should be working for the vendor to get the maximum price.
In a traditional auction, Payne says people attending have the opportunity to increase their bid by say a $1,000 before the hammer falls, something that’s not possible under a reverse auction, where the first bid is final.
“Are we getting the maximum price for the vendor?” he asks.
The Burrawang Café is by no means the first reverse auction in Australia.
Alex Bartolo, from Raine &amp; Horne Narre Warren South, tells Property Observer he used reverse auctions successfully up till 2004 for about 12 properties and recalls that about seven or eight of them sold using this technique.
He recalls they attracted a lot of media attention at the time.
Not all of it was positive.
Bartolo was involved with a stoush with REIV chief executive Enzo Raimondo, who was then strongly opposed to what had become commonly known as the “Bartolo auction method”.
Raimondo told the Sunday Age in June 2004 that a reverse auction was “a gimmick and a fad” that Bartolo was using to differentiate himself in a tight market.
“I don't think a reverse auction is in anyone's best interests,” Raimondo says.
He added that Dutch auctions do not contravene the real estate act but only because reverse auctions weren't considered when the legislation was written. It was for conventional auctions.
“But it's not in the spirit of the legislation."
Raimondo declined to comment further on this issue when Property Observer contacted the REIV.
A spokesperson for the institute said it was best left to the REINSW to comment.
Bartolo, though, remains defiant and believes a reverse auction is fairer system than the traditional method because it does not hassle the vendor or purchaser.
He says the REIV view is “old fashioned” and says there are many in the industry who don’t like it when anyone changing the rules.
Bartolo says he has contacted the selling agent and suggested that the auctioneer announce when the reserve price has been met.
“Then bidding can continue and the winner bidder has the first right of refusal,” he says.
Cooley says its the first time he is undertaking a reverse auction.
"We only know of a similar method used many years ago in Victoria so it’s terrific to be apart of it. This method is an effective way of communicating to buyers the owner’s genuine commitment to selling the property so we’re looking forward to receiving a lot of interest on auction day”, he says.
Reverse auctions have been used at the Sydney fish markets since 1989.
At the fish market, the auctioneers set the target price of the fish each morning, based on quality, demand and the previous day's prices. They then add on $3. Prices are displayed on two huge electronic dials that hang from the ceiling; when the selling starts, the clocks count down at a rate of $1 per revolution, the cents racing by like milliseconds on a stopwatch, until the first buyer bids.
</body></html>

Latest Buying Insights

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Editor's Picks

Developments

New apartments

New townhouses

News

Latest Buying Insights

Buying off-the-plan in Melbourne? How independent iCIRT ratings are set to change Victorian property

Editor's Picks

Receive the latest news stories to your inbox

Developments

New apartments

New townhouses

News